S.691 - Leveling the Playing Field 2.0 Act (119th Congress)
Summary
The Leveling the Playing Field 2.0 Act aims to amend the Tariff Act of 1930 to strengthen and improve the enforcement of antidumping and countervailing duty laws. The bill addresses issues such as successive investigations, market distortions, circumvention of duties, currency undervaluation, and duty evasion. It seeks to provide more effective remedies against unfair trade practices by foreign countries.
Expected Effects
The act is likely to result in increased scrutiny of imports and more aggressive enforcement of trade laws. This could lead to higher duties on certain imported goods and potentially impact trade relationships with other countries. The changes aim to protect domestic industries from unfair competition.
Potential Benefits
- Strengthens protections for domestic industries against unfair trade practices.
- Provides tools to address currency undervaluation and cross-border subsidies.
- Enhances the ability to prevent circumvention of antidumping and countervailing duties.
- Improves the process for investigating claims of duty evasion.
- Creates a more level playing field for American businesses in international trade.
Potential Disadvantages
- Could lead to increased costs for consumers due to higher import duties.
- May strain trade relationships with countries accused of unfair trade practices.
- Could result in retaliatory measures from other countries, harming American exports.
- Increased complexity in trade regulations may create compliance challenges for businesses.
- The broad scope of the act could lead to unintended consequences and disputes.
Constitutional Alignment
The bill aligns with the Commerce Clause (Article I, Section 8, Clause 3) of the U.S. Constitution, which grants Congress the power to regulate commerce with foreign nations. The act seeks to ensure fair trade practices, which falls under the purview of regulating international commerce. The specific mechanisms for enforcing trade laws are within the powers granted to Congress.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).